2. Market
Market means that customers who
have purchased or want to purchase a
certain product or service.
OR
It is the set of potential customers.
For instance…..
3. Types Of Market
• Consumer Market
• Industrial Market
• Global Market
• Non profit or Governmental
market
4. Consumer Market
The aim of buying is to consume for their
own or somebody who has something to do
with in consumer market.
5. Industrial Market
Business buyers buy goods for their utility in
enabling them to make or resell a product to
others for the purpose of making profits.
7. Nonprofit and Government
Markets
Companies selling their goods to nonprofit
organizations such as churches,
universities, charitable organizations, or
government agencies.
8. 8
Marketing = ?
Marketing is “Demand Management”.
Marketing is the sum of all activities that take you to a
sales outlet. After that sales takes over.
Marketing is all about creating a pull, sales is all about
push.
Marketing is all about managing the four P’s –
product
price
place
promotion
10. 10
Marketing Management
Marketing management is the process of planning,
organizing, directing and controlling the activities
related to marketing of goods and services to satisfy
the customer needs and achieve organizational goals
11. 11
The 4 Ps & 4Cs
Marketing
Mix
Product
Price Promotion
Place
Customer
Solution
Customer
Cost
Communication
Convenience
12. Marketing Management Philosophies
Agree or Disagree?
1. Production: consumers will favor products that are
available and highly affordable
2. Product: consumers favor products that offer the
most in quality, performance, and innovative features
3. Selling: consumers will not buy unless an
organization undertakes a large-scale selling and
promotional effort
4. Marketing: determining the needs and wants of
target markets and delivering the desired satisfactions
more effectively and efficiently then the competitors
5. Societal marketing: generating customer
satisfaction and long-run societal well-being are the
keys to both achieving the company’s goals and
fulfilling its responsibilities
13. Orientations towards marketing
• Production concept (before 1930):
demand > supply
• Selling concept (1930-1950):
supply > demand
• Marketing concept (post-1960s):
analyze consumer needs before
producing and selling, market
orientation, competition…
14. Marketing Concept versus
Selling Concept
Starting Point Focus Means Ends
Factory Product
Sell and
Promote it
Profits through
sales volume
The Selling Concept
Market
Customer
needs
Integrated
marketing
Profits from
satisfied customers
The Marketing Concept
15. 15
Scope – What do we
market
Goods
Services
Events
Experiences
Personalities
Place
Organizations
Properties
Information
Ideas and concepts
16. 16
Core Concepts of Marketing
Based on :
Needs, Wants, demand
Products, Utility, Value & Satisfaction
Exchange, Transactions & Relationships
Markets, Marketing & Marketers.
18. 18
Core Concepts of Marketing
Need – food ( is a must )
Want – Pizza, Burger, French fry's ( translation of a need
as per our experience )
Demand – Burger ( translation of a want as per our
willingness and ability to buy )
Desire – Have a Burger in a five star hotel
19. 19
In order to understand Marketing let us begin with the
Marketing Triangle
Customers
CompetitionCompany
20. 20
Who is a Customer ??
Anyone who is in the market looking at a
product / service for attention, acquisition,
use or consumption that satisfies a want or a
need.
CUSTOMER
IS . . . . .
21. Common marketing problems
• How can we identify and choose profitable
market segments?
• How can differentiate our offer from our
competition?
• How should we react to competitors?
• How can we satisfy our customers and
build brand loyalty?
• How can we measure the effectiveness of
an add campaign, of Public Relations, of a
promotion, etc…?
23. The Marketing Mix
• The tools available to a business to gain the
reaction it is seeking from its target market in
relation to its marketing objectives
• 7Ps – Price, Product, Promotion, Place, People,
Process, Physical Environment
• Traditional 4Ps extended to encompass growth
of service industry
25. Product
• Methods used to
improve/differentiate
the product and increase
sales or target sales more
effectively to gain
a competitive advantage e.g.
– Extension strategies
– Specialised versions
– New editions
– Improvements – real or
otherwise!
– Changed packaging
– Technology, etc. Image copyright: www.freeimages.co.uk
31. Place
• The means by which products and
services get from producer
to consumer and where they can be
accessed by the consumer
– The more places to buy the product and the
easier it is made to buy it, the better for the
business (and the consumer?)
33. People
• People represent the business
– The image they present can be important
– First contact often human – what is the lasting image
they provide to the customer?
– Extent of training and knowledge
of the product/service concerned
– Mission statement – how relevant?
– Do staff represent the desired culture
of the business?
35. Process
• How do people consume services?
• What processes do they have to go through
to acquire the services?
• Where do they find the availability
of the service?
– Contact
– Reminders
– Registration
– Subscription
– Form filling
– Degree of technology
